Dollar-selling linked to SK Hynix share offer sends won to over 1-month high, source says

Dollar-selling linked to SK Hynix’s U.S. share sale emerged in South Korea’s dollar-won forwards market, lifting the won to a more than one-month high. The move suggests near-term FX demand from hedging/positioning tied to the issuance, but it appears limited to currency markets rather than broader fundamentals.

Analysis

Dollar-selling linked to SK Hynix’s U.S. share sale emerged in South Korea’s dollar-won forwards market, lifting the won to a more than one-month high. The move suggests near-term FX demand from hedging/positioning tied to the issuance, but it appears limited to currency markets rather than broader fundamentals.